Covidien's chief financial officer, Charles Dockendorff, has decided to retire from the company at the end of this year.
The company will name Dockendorff’s successor following a review of candidates, both internal and external, according to a recent press release. Dockendorff will assist with the search process and plans to serve as an advisor to the company through at least the end of calendar year 2014.
“Chuck’s extraordinary leadership over the last 25 years has contributed directly to our global growth and the value we have created for shareholders,” said José E. Almeida, chairman, president and CEO of Covidien. “We anticipate a seamless transition and are pleased to have the benefit of his experience and counsel during the transition period.”
Dockendorff joined Covidien’s predecessor company Kendall Healthcare Products, the foundation of the Tyco Healthcare business, in 1989 as controller and was named vice president and controller five years later. He was appointed chief financial officer of Tyco Healthcare in 1995, and helped the company grow sales from $600 million in 1995 to more than $10 billion when Covidien was spun off as a separate public company in 2007.
Covidien, which is based in Dublin, Ireland (though it mostly operates out of its U.S. headquarters in Mansfield, Mass.) reported 2013 revenue of $10.2 billion, Covidien has more than 38,000 employees worldwide in more than 70 countries.